Vietnam's donors to meet in June, discuss economic stability

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The Consultative Group (CG) for Vietnam will hold its mid-year meeting on June 9 in the north central province of Ha Tinh to discuss the country's marcoeconomic stability, the World Bank said.

The group includes bilateral and multilateral donors to Vietnam like the World Bank and Japan. It will focus on the implementation of Resolution 11, which is a series of measures unveiled by the government in late February in an attempt to restore stability for the economy and control inflation. 

The meeting will cover other issues such as monetary and financial sector, fiscal and budget transparency, public investment efficiency and small and medium-sized enterprises.

According to the World Bank, the donors will also discuss appropriate policy responses to protect the poor and activities of small companies.

Ahead of the CG meeting, a separate Vietnam Business Forum between the government and the business community will be held on May 27 by the International Finance Corporation, a World Bank member, and the Ministry of Planning and Investment. The forum will focus on various topics, including banking and capital market, infrastructure and education.

The full CG meets every year, usually in December, to help Vietnam's development. Informal mid-year CG meetings have been held in Vietnam since 1998, usually in May or June of each year to discuss economic issues, strategies for reducing poverty and aid effectiveness.

Vietnam received US$7.9 billion in pledges of grants and low-interest loans from the group last year, down from $8.06 billion in 2009.

The economy is expected to expand 6.5 percent this year, while inflation by the end of 2011 may be similar to the 2010 figure of 11.75 percent, the government said.

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